Superstorm Sandy may have put a dent in the insurance industry's reversal of fortunes after a catastrophe-filled 2011, but commercial-property pricing may not increase as much as one might expect after the second-most damaging named storm to hit the U.S., a new report says.
In its “Marketplace Realities 2013 Spring Update,” insurance broker Willis says capacity remains abundant even for catastrophe perils. “Even with Sandy,” says Willis, “property losses totaled $65 billion in 2012, a 44 percent improvement over 2011's total, and the P&C insurance market saw policyholder surplus increase from $550 billion in 2011 to $570 billion in 2012.”
The market, the broker continues, was well capitalized to absorb 2012's losses.
Continue Reading for Free
Register and gain access to:
- Thought leadership on regulatory changes, economic trends, corporate success stories, and tactical solutions for treasurers, CFOs, risk managers, controllers, and other finance professionals
- Informative weekly newsletter featuring news, analysis, real-world cas studies, and other critical content
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the employee benefits and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
